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Financial Reporting Comparability and Accounting-Based Relative Performance Evaluation in the Design of CEO Cash Compensation Contracts
16 references·5 citing·39 second hop
Financial Reporting Comparability and Accounting-Based Relative Performance Evaluation in the Design of CEO Cash Compensation Contracts (2019)Financial Reporting Comparability and Acc…The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors (2002)The Quality of Accruals and E…Financial accounting information and corporate governance (2001)Financial accounting informat…Corporate governance, chief executive officer compensation, and firm performance (1999)Corporate governance, chief e…Chapter 38 Executive compensation (1999)Chapter 38 Executive compensa…Endogenously Chosen Boards of Directors and Their Monitoring of the CEO (1995)Endogenously Chosen Boards of…Additional evidence on the association between the investment opportunity set and corporate financing, dividend, and compensation policies (1993)Additional evidence on the as…The investment opportunity set and corporate financing, dividend, and compensation policies (1992)The investment opportunity se…Executive incentives and the horizon problem (1991)Executive incentives and the …Performance Pay and Top-Management Incentives (1990)Performance Pay and Top-Manag…The role of majority shareholders in publicly held corporations (1988)The role of majority sharehol…Aggregation and Linearity in the Provision of Intertemporal Incentives (1987)Aggregation and Linearity in …Moral Hazard in Teams (1982)Moral Hazard in TeamsRank-Order Tournaments as Optimum Labor Contracts (1981)Rank-Order Tournaments as Opt…Rank-Order Tournaments as Optimum Labor Contracts (1979)Rank-Order Tournaments as Opt…Moral Hazard and Observability (1979)Moral Hazard and ObservabilityRisk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Financial statement similarity (2023)Financial statement similarityEconomic Determinants and Consequences of Performance Target Difficulty (2022)Economic Determinants and Con…Does Financial Statement Comparability Facilitate SEC Oversight?* (2022)Does Financial Statement Comp…Accounting Comparability, Conservatism, Executive Compensation-Performance, and Information Quality (2022)Accounting Comparability, Con…An Input-Based Measure of Financial Statement Comparability (2018)An Input-Based Measure of Fin…The Theory of Syndicates (1968)Essays in the Theory of Risk-Bearing. (1972)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Financial Intermediation and Delegated Monitoring (1984)Agency Costs, Net Worth, And Business Fluctuations (1988)Determinants of corporate borrowing (1977)Corporate financing and investment decisions when firms have information that investors do not have (1984)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Management ownership and market valuation (1988)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Higher market valuation of companies with a small board of directors (1996)Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature (2001)Corporate Governance and Equity Prices (2003)On the use of instrumental variables in accounting research (2009)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Good News and Bad News: Representation Theorems and Applications (1981)Agency costs and innovation (1989)Risk Taking by Mutual Funds as a Response to Incentives (1997)The Theory of Incentives: The Principal-Agent Model (2001)Production, Information Costs and Economic Organization (1996)Performance Pay and Productivity (2000)Accounting earnings and cash flows as measures of firm performance (1994)A Review of the Earnings Management Literature and Its Implications for Standard Setting (1999)Errors in Estimating Accruals: Implications for Empirical Research (2002)How does financial reporting quality relate to investment efficiency? (2009)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)A review of archival auditing research (2014)General purpose technologies ‘Engines of growth’? (1995)A Behavioral Approach to the Rational Choice Theory of Collective Action Presidential Address, American political Science Association, 1997 (2010)What's the difference? diversity constructs as separation, variety, or disparity in organizations (2007)The Fundamental Institutions of China's Reforms and Development (2011)Top Incomes in the Long Run of History (2011)A Survey of Corporate Governance (1997)
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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1979Moral Hazard and Observability8,358 cited
  • 2002The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors5,163 cited
  • 1990Performance Pay and Top-Management Incentives5,080 cited
  • 1982Moral Hazard in Teams4,992 cited
  • 1981Rank-Order Tournaments as Optimum Labor Contracts4,568 cited
  • 1999Corporate governance, chief executive officer compensation, and firm performance4,334 cited
  • 1992The investment opportunity set and corporate financing, dividend, and compensation policies3,591 cited
  • 1979Rank-Order Tournaments as Optimum Labor Contracts3,033 cited
  • 1987Aggregation and Linearity in the Provision of Intertemporal Incentives2,870 cited
  • 2001Financial accounting information and corporate governance2,296 cited
  • 1995Endogenously Chosen Boards of Directors and Their Monitoring of the CEO1,719 cited
  • 1999Chapter 38 Executive compensation1,569 cited
  • 1991Executive incentives and the horizon problem1,554 cited
  • 1993Additional evidence on the association between the investment opportunity set and corporate financing, dividend, and compensation policies

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1,259 cited
  • 1988The role of majority shareholders in publicly held corporations1,198 cited
  • Cited by

    • 2023Financial statement similarity39 cited
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    • 2022Does Financial Statement Comparability Facilitate SEC Oversight?*32 cited
    • 2022Economic Determinants and Consequences of Performance Target Difficulty23 cited
    • 2018An Input-Based Measure of Financial Statement Comparability21 cited